Saturday, January 16

Tag: transaction

Firstbank Cardholders Record ₦1.18 Trillion In Transaction Value During Lockdown
Business

Firstbank Cardholders Record ₦1.18 Trillion In Transaction Value During Lockdown

First Bank of Nigeria Limited says Nigerians with its cards used them 105 million times to make payments or withdrawals worth about N1.18 trillion throughout the lockdown. FirstBank’s Chief Executive Officer, Adesola Adeduntan, also disclosed that the bank’s 53, 000 agents across the country processed about N512 billion worth of transactions with differing values while the lockdown lasted. He noted that the bank was “able to actively support her customers, their families and businesses through these challenging times.” Adeduntan further noted that approximately 12.6 million withdrawals to the tune of N156 billion were carried out across FirstBank’s ATMs nationwide. “Our customers made transfers over 106 million times with a total value of about N8.18 Trillion across our dig...
Diamond Bank Cheques Will Become Invalid From March 1st 2020
Business

Diamond Bank Cheques Will Become Invalid From March 1st 2020

Access bank plc has directed that all Diamond Bank cheques will no longer be valid for transaction at the end of this month. Banks across the country have given notice to customers that as from 27th of Febuary, Diamond bank cheques will not be accepted for clearing at the inter bank market. One of such notice said “This is to inform you that Access Bank Plc has directed that effective March 1, 2020, Diamond Bank cheques will no longer be valid for clearing. Consequently, from February 27, 2020, Diamond Bank cheques will not be accepted at any of our branches. It will be recalled that Access Bank acquired Diamond Bank on the approval of its shareholders. Access agreed to the takeover after Diamond Bank had struggled since 2016 to bolster its capital following loan losses which...
Raising Children is an Investment- Timi Dakolo
Celebs

Raising Children is an Investment- Timi Dakolo

Timi Dakolo is of the opinion that raising a child is an investment and that the reward for doing so is not only financial. The father of three stated this after he shared a post calling on his followers who have other people's children living with them, to ensure they treat them right as they may end up being their saving grace when they grow old.   While some of his followers agreed with him, one argued that treating a child right should not be a business transaction where a reward is expected. See the follower's comment and Timi's response below.  
Mompha Hid N32.9b Transactions from Government for 25 Months – EFCC
News

Mompha Hid N32.9b Transactions from Government for 25 Months – EFCC

At the resumed trial of Dubai-based Nigerian man Ismaila Mustapha a.k.a Mompha on Wednesday January 15, it was alleged that he hid N32.9billion transactions from the Special Control Unit Against Money Laundering (SCUML) for 25 months. EFCC accused the defendant of procuring Ismalob Global Investment Ltd. and retaining in its account, an aggregate sum of N32.9 billion between 2015 and 2018 between December 14, 2015 and January 25, 2018. Prosecution witness and an official of the Special Control Unit Against Money Laundering (SCUML),  Mr. Matthew Enu-Obun told Justice Mohammad Liman that they had no record of the transaction as it was hidden and not reported. According to the EFCC, Mompha who is not a financial institution or an authorised foreign exchange dealer, negotiated for...
Mompha’s Trial Resumes January 15th On Alleged 22bn Fraud
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Mompha’s Trial Resumes January 15th On Alleged 22bn Fraud

Federal High Court in Lagos today fixed January 15th 2020 for the resumed trial of Internet sensation, Ismaila Mustapha aka Mompha. Recall that Mompha was arrested by EFCC operatives at the Nnamdi Azikiwe Airport Abuja on October 19th and was arraigned before the court on November 25th on a 14 count-charge bordering on Money Laundering and suspected internet fraud. He was arraigned alongside his company, Ismalob Global Investment. The EFCC alleged that Mompha used Ismalob Global Investment, owned by him, to retain the aggregate sum of N18.05billion between 2015 and 2019. He was also alleged to have aided his company to retain N14.9 billion between 2015 and 2017, while not complying with the Central Bank of Nigeria (CBN) and Federal Ministry of Trades and Investment financial tran...
Atiku confirms the N50m traced to Obasanjo Presidential Library by EFCC was a donation
News

Atiku confirms the N50m traced to Obasanjo Presidential Library by EFCC was a donation

Former vice-president Atiku Abubakar has confirmed that some money was indeed given to the Olusegun Obasanjo Presidential Library, a transaction that has become part of the larger money laundering probe by EFCC of the €150million brought into the country by Atiku’s failed presidential campaign.   He however insisted it was a normal donation because the library is a not-for-profit organisation and that the donation was made via a bank cheque, and not cash of $140,000 that the EFCC is investigating.   The EFCC on August 8th extended to Olusegun Obasanjo Presidential Library, its investigation of the laundered 150 million euros cash-for-poll by associates of Atiku Abubakar.  EFCC investigators went to the Library to authenticate the claims by one of those under probe, Ma...
EFCC begins investigation into $8.9billion UK court award against Nigeria over alleged breach of contract
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EFCC begins investigation into $8.9billion UK court award against Nigeria over alleged breach of contract

Ibrahim Magu, Chairman of the Economic and Financial Crimes Commission, EFCC has disclosed that the Commission had commenced investigation into the circumstances leading to the $8.9billion arbitral award against Nigeria by a United Kingdom Court over alleged breach of gas contract agreement between it and Process and Industrial Development Limited.   Describing the process leading to the judgment as "day light robbery", Magu vowed that the Commission will forensically investigate the transaction and bring anyone one found wanting to justice.   He spoke while playing host to a delegation from the Nigerian Diaspora Commission, led by the Chairman and Chief Executive, Hon. Abike Dabiri Erewa,  who sought for collaboration with EFCC towards effective combating of cyber cr...
SARS Officer Disgraced By A Soldier’s Wife In Ikorodu
News

SARS Officer Disgraced By A Soldier’s Wife In Ikorodu

Ak, a SARS officer notorious for illegal arrests and extortion, was disgraced by the mom of one of his potential victims, yesterday, in #Ikorodu, Lagos. The incident happened in front of a Polaris bank. The lady and her son had gone to carry out a transaction at the bank, only for AK – attached to State CIID, Mowonla, Ikorodu – to start harassing the boy while waiting for his mom outside the bank. However, when the mom stepped out and saw what was going on, she went rogue on the SARS operatives, who all fled, abandoning A.K, after realizing that she’s the wife of a soldier. It took the intervention of passersby to rescue the officer from her.
Femi Otedola Remembers Late Father who Loaned him Money for Business
Celebs

Femi Otedola Remembers Late Father who Loaned him Money for Business

Billionaire Femi Otedola has marked the fifth year since he lost his dad who loaned him the money which he invested with to become the man he is today. According to the 56-year old billionaire, his dad Sir Michael Otedola gave him a loan 21 years ago which he used in buying some diesel trucks. He also recounted how he sold his house to add to the money given to him by his father. Appreciate his late dad, Femi Otedola shared on social media: It’s been five years without you, dad. 21 years ago when I sold the first house I ever built to buy diesel trucks, I also requested a loan and you graciously obliged which became a turning point in my success.“Times truly goes by very fast but your memories remain. Rest on, my dearly beloved father. Rest on, Sir Michael Otedola.” In December...
Gov. Ajimobi Under Fire for allegedly Awarding Contracts to Friends, Family Members
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Gov. Ajimobi Under Fire for allegedly Awarding Contracts to Friends, Family Members

The Oyo State chapter of the Peoples Democratic Party (PDP) has accused Abiola Ajimobi, the outgoing Governor of the State, of syphoning state funds in his last days in office through an alleged contract spree to his friends and family members. Akeem Olatunji, the State Publicity Secretary of the PDP, made the accusation in an interview with the New Telegraph. He also corroborated the allegation of Seyi Makinde, the Oyo State Governor-elect, that Ajimobi has awarded a N30billion contract to create hiccups for the incoming administration He said: “We don’t make allegations when there are no evidence. In actual fact, we know that government is a continuum and we are not trying to stampede the incumbent government. Nevertheless, due process has to be followed in whate...
Police Release Details of Arrested Fake Army Major in Delta
News

Police Release Details of Arrested Fake Army Major in Delta

The Delta State Police Command has released the photograph of the a fake Army Major, who was recently arrested by officers and men of the Nigeria Police Force, Ekpan Divisional Headquarters in Uvwie Local Government Area of Delta State. The Command released the photograph in a statement signed by the Acting Police Public Relations, ASP Orisewejie Chuks. ASP Chuks gave the name of the fake Army major as Blessing Emelor, a native of Isoko ethnic nationality. He noted that the suspect was actually arrested on April 6. ASP Chuks, who confirmed the report to our Correspondent yesterday, said “the suspect has been making the overture for the past three years to endear him to unsuspecting members of the public and enjoy ‘Esprit-de-corps’ from members of the Armed...
Land Speculator Sentenced 70-years Jail Term for Forgery in Abuja
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Land Speculator Sentenced 70-years Jail Term for Forgery in Abuja

Justice C.O Agbaza of the Federal high court, sitting in Jabi Abuja, on Wednesday, April 10, 2019, sentenced and convicted one Kehinde Bello, to 70 years imprisonment for obtaining by false pretence and forgery. EFCC, had arraigned the convict for trial on 10-count charge bordering on Advance Fee Fraud, forgery and conspiracy. Bello’s problem started in 2008, through a petition by Enatto-Nana Aisha to the EFCC, complaining of the convict, who approached her to pay for of a landed property in Abuja, claiming to be a staff of the Federal Capital Development Authority, FCDA. Being convinced of the transaction, she parted with N28 million, being initial deposit to the convict. But the convict disappeared without letter of allocation, as he had promised. Working on the petition, the ...
18-year-old Cook Caught After Stealing N500,000 Belonging To His Employer In Delta
News

18-year-old Cook Caught After Stealing N500,000 Belonging To His Employer In Delta

An 18-year old cook, Samuel Joshua, who had been on the run since 10 January, 2019 after stealing the sum of N.5m belonging to his employer, Bishop Samuel Olakunle Ajani at his residence in Ikota area of Ajah, Lagos, Southwest Nigeria has been arrested in Delta State and brought back to Lagos. A Police source alleged that the suspect was tracked and arrested by the Police from Ajah Division, Ajah, Lagos following a complaint by the suspect’s employer. Police alleged that trouble started for the teenager when the complainant reported to the Police that he went to the bank with the suspect to withdraw the sum of N500,000 and kept the money inside his room to solve some domestic problems, but that he was shocked he could not find the money where he kept it the following day and that he ...
Ayade Receives Outline Business Case On Bakassi Deep Seaport
News

Ayade Receives Outline Business Case On Bakassi Deep Seaport

The Cross River State Governor, Professor Ben Ayade, has received the Outline Business Case (OBC) on Bakassi Deep Seaport project by the Federal Government appointed transaction adviser. Governor Ayade was presented with the document by the Managing Director of Feedback Infrastructure Limited, Nnachi Onuoha, at the executive council chamber of the Government House in Calabar, the state capital. During the presentation, Onuoha informed the governor that the exercise of producing the OBC was quite demanding but that the outcome was thorough. He went further to highlight the overall benefits of the Bakassi Deep Seaport to the country and its people. Onuoha noted the entire states in the South-East region were land-locked, adding that there was a need for an opening point to these ...
Diamond Bank And Access Bank Merger Approved By Shareholders
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Diamond Bank And Access Bank Merger Approved By Shareholders

Diamond Bank Plc (“Diamond Bank”) and Access Bank Plc (“Access Bank”) today announced the approval of their merger by shareholders of Diamond Bank and Access Bank, respectively. Shareholders of both entities have voted in favour of the Scheme of Merger, as outline below, paving the way for the completion of the transaction.   The Central Bank of Nigeria (CBN) and the Securities Exchange Commission (SEC) had earlier, granted Approvals-in-Principle for the respective Scheme of Merger of both banks. Subject to final regulatory approvals, including the High Court Sanction of the Scheme, the combined business will start operating on April 1st, 2019. “I’m delighted that the shareholders of both companies share our vision and have supported this merger. The merge...
Google, UBA Collaborate To Provide Free Wi-Fi to Customers
News

Google, UBA Collaborate To Provide Free Wi-Fi to Customers

Africa’s global bank, United Bank for Africa (UBA) Plc has collaborated with Google and ISP partner to launch Google Station in 11 key UBA branches in Lagos State as part of plans to roll out 200 stations in the country. Google Station, a platform for providing free, high-speed Wi-Fi hotspots in public places, began in Lagos last year, and extended to Abuja in December in partnership with Backbone Connectivity Network. This google-powered initiative would allow customers access to internet connectivity within the 11 branches and its environs, thereby facilitating their day-to-day businesses and activities, while ensuring unhindered connectivity. The 11 branches where the hotspot will be located are: UBA Bank Road, 810-811 Bank Road, Daleko; UBA Matori, 21 Fatai Atere street; UBA S...
Kanye West Signature Forged in $900k Scam
Celebs

Kanye West Signature Forged in $900k Scam

Kanye West signature was forged in $900k scam, that let to many believing he as billed to perform at Philipp Plein’s New York Fashion Week. There were rumours earlier this week that Ye was to perform at the event, before it was shut down by his wife Kim Kardashian on Twitter. TMZ is now reporting that Kanye West himself was never contracted for the performance at all; instead, according to their sources, a G.O.O.D. Music associate (and former friend of Kanye’s) misrepresented himself to Plein as Kanye’s rep. He allegedly negotiated a nearly million dollar contract for Kanye’s performance, including a $900,000 advance, which, according to TMZ, Plein wired to an account associated with the scammer. He also allegedly forged Kanye’s signature in order to make this hefty transac...
Man Arrested For Attempting To Rob a Businessman In Lagos
News

Man Arrested For Attempting To Rob a Businessman In Lagos

The police in Lagos state have arrested one Ifeanyi Owoh, pictured above, for attempting to steal from a businessman who was in the state on a visit. A statement from the state police command spokesperson, Chike Oti, says on Tuesday January 22nd at about 15.30hrs, along Billings way, Oregun, Lagos, policemen who were on a motorbike on street patrol duty, sighted two men. Then approached the men for routine check, but rather than subject themselves to security scrutiny, they took to their heels. The police riders chased after the fleeing men and arrested one of them. During a brief interrogation, Owoh narrated that their mission in the industrial estate was to rob a business man who they learnt  was in town for a transaction with a notable automobile company in the area. Whe...
Banky W Collected N57million From Buhari – Woman Calls Out Singer
Celebs

Banky W Collected N57million From Buhari – Woman Calls Out Singer

A woman, Shalom Miriam Shehu‏ , has claimed singer Banky W collected N57million to run adverts for President Muhammadu Buhari, which he never did. According to Mariam, she has evidence of the transaction between Mr Bankole Wellington, who is contesting for Federal House Of Representatives under Modern Democratic Party, and the campaign organization of President Muhammadu Buhari. See her tweet: Mr. Wellington, come out and support Buhari with your chest. You can’t be doing this non-partisan shit forever. Your EME Company you converted to PR firm got a contract of N57m through one Abubakar Ahmed to promote Buhari. Why have you not been doing your work? I have a picture of you and your wife traveling to Abuja via Arik Air in December where the contract was signed. Your client ...
Young man disabled after selling his kidney to buy iPhone
News

Young man disabled after selling his kidney to buy iPhone

A young man is now disabled, bed-bound and needing constant care after selling his kidney to buy an iPhone, according to recent reports on Chinese media. The 25-year-old man, known by his surname Wang, had his kidney removed in an underground clinic before selling it on the black market for 22,000 yuan (£2,528) in 2011 when he was just 17 years old. The teenager wanted an iPhone and iPad desperately in order to prove to his classmates that he was trendy, but his cash-strapped parents could not afford them. His story shocked the country at the time, leading iPhones to be billed as ‘kidney machines’ by web users. In order to raise funds for his gadgets, the high school student found three middlemen on a Chinese online chatting platform QQ, who promised to help him reali...
Otedola Set To Divest 75% Stake From Forte Oil, Notifies SEC, NSE
News

Otedola Set To Divest 75% Stake From Forte Oil, Notifies SEC, NSE

Forte Oil Plc has disclosed plans by  Nigerian billionaire businessman, Femi Otedola to sell his 75 per cent direct and indirect shareholdings in Forte Oil. Forte Oil Plc in a statement signed by its General Counsel, Akinleye Olagbende stated that it has notified the Nigerian Stock Exchange, NSE, Securities and Exchange Commission, SEC and the investing community that its majority shareholder, Mr. Femi Otedola has reached an agreement with the Prudent Energy team, investing through Ignite Investments and Commodities Limited, to divest of his full 75 percent direct and indirect shareholding in the company’s downstream business. Femi Otedola The statement states: ““ Mr Otedola’s divestment from the downstream business is pursuant to his decision to explore and maximise business opportu...
Telcoin Partners Jumia to Enhance Service Efficiency
News

Telcoin Partners Jumia to Enhance Service Efficiency

Chief Executive Officer, Jumia Nigeria, Mrs. Juliet Anammah, Telcoin, a technology platform provider based in Tokyo Japan, offering telecoms focused blockchain solutions, has entered into a partnership with Jumia, one of the leading online e-commerce brands with presence in 15 African countries, including Nigeria. The partnership, to commence in Nigeria, would seek to tap into the synergies of blockchain technology to increase the volume of goods and services purchased on the e-commerce platform. Announcing the partnership deal, the Head of Africa for Telcoin, Ms. Lee-Ann Cassie, said: “What we will focus on and explore is increasing the sales traffic from Nigerians in the diaspora adding value to cross-border e-commerce transactions as well as value-enhancing e-commerce transac...
Cryptocurrency: How Price Drop Affects Exchanges
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Cryptocurrency: How Price Drop Affects Exchanges

It may be easy to convince anyone that a cryptocurrency exchange made loads of profits in 2017, given the remarkable upward price jumps the market witnessed. But with the market capitalisation down and prices of cryptocurrencies dropping drastically in 2018 from what it used to be, it becomes difficult to see how exchanges are not counting huge losses. A report by Bloomberg estimated that the top ten cryptocurrency firms were generating as much as $3 million in fees a day or heading for more than $1 billion per year as at 2017 which was significant considering that the market did not even exist until 2009. According to the report, based on daily trading volume and fees listed, annual revenue for the top exchanges goes into the billions of dollars. CRYPTOCURRENCY Coinbase, one ...
FG Begins New TSA Tariff Regime November 1
News

FG Begins New TSA Tariff Regime November 1

Ahmed Idris The federal government will on November 1, 2018, introduce a new Treasury Single Account (TSA) tariff regime, to ensure that the service charge of all payments made to government agencies will be borne by the payer. Under the new tariff regime, the service charge on all payment to its Ministries, Departments and Agencies (MDAs), would be borne by the payer. This development was contained in a statement issued by the office of the Accountant General of the Federation (AGF), Ahmed Idris, which was the outcome of a stakeholders’ sensitisation forum on TSA, which held in Abuja on Tuesday. “In line with the global best practices and amidst dwindling revenues, the federal government has approved a new Treasury Single Account tariff model which mandates that the servic...
Sack NHIS Executive Secretary Now, Labour Tells Buhari
News

Sack NHIS Executive Secretary Now, Labour Tells Buhari

President Muhammadu Buhari has been told to sack NHIS Executive Secretary, Prof. Usman Yusuf with immediate effect. NHIS Executive Secretary, Prof. Usman Yusuf Alarmed by the audacity of the Executive Secretary of the National Health Insurance Scheme (NHIS), Prof Usman Yusuf, Organised Labour under the auspices of Association of Senior Civil Servants of Nigeria (ASCSN) has called on President Muhammadu Buhari to relieve Professor Yusuf of his appointment to avoid sending the wrong signal to the outside world as regards the anti-corruption war of the administration, Nigerian Tribune has reported. Speaking on Wednesday, the ASCSN Secretary-General, Comrade Alade Bashir Lawal, expressed worry that the impunity with which Professor Yusuf bull-dozed his way to resume office with ...
AfDB Calls For Bridging Of Africa’s Capital, Bankable Projects
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AfDB Calls For Bridging Of Africa’s Capital, Bankable Projects

The Africa Development Bank (AfDB) says there is the need to bridge the gap between Africa’s available capital and bankable projects since it requires between 600 and billion dollars annually for development. Akinwumi Adesina AfDB’s “African Economic Outlook 2018’’, financing Africa’s development report notes that out of the said amount, between 130 billion dollars and 170 billion dollars was needed for infrastructure yearly. The AfDB, however, said it was working with other multilateral development partners and stakeholders to tackle the continent’s massive infrastructure and development needs. To this end, the bank said it had concluded plans to organise its First Africa Investment Forum (AIF). The bank said that the Forum, an innovative investment market place would bring t...
Freight Forwarders Bemoan Low Cargo Clearing In Apapa Port
Aware

Freight Forwarders Bemoan Low Cargo Clearing In Apapa Port

Some concerned freight forwarders on Saturday bemoaned low number of containers cleared by the Nigeria Customs Service (NCS) in Apapa port. *Apapa port The port users, who spoke on the challenges facing their operations in Lagos State, alleged that only between 38 and 40 containers were cleared by NCS for release daily, in spite of the automation of ports operations. “Risk Assessment Report (RAR), Pre-Arrival Assessment Report (PAAR) and the latest Nigeria Customs Integrated Service II are expected to speed up cargo transaction but to no avail. “Clearing and release of containers daily become herculean and, most times, fruitless because of human interference, coupled with incessant system break down,” lamented Mr Osita Chukwu. Chukwu, the Convener, Save Nigeria Freight Forward...
Banks Stop Cash Withdrawal From Overseas ATMs
News

Banks Stop Cash Withdrawal From Overseas ATMs

Banks have suspended all cash withdrawals from overseas Automated Teller Machines (ATMs), except for customers whose cards are linked to domiciliary accounts funded locally, The Nation has learnt. Banks have been encouraging travellers to open and fund dollar accounts, which aside from having no spending limits, provide them the flexibility to spend at all times. The lenders are also raising their card spending limits on Point of Sale (PoS) and online card transactions abroad, an indication of increased dollar liquidity and rising exchange rate stability. Guaranty Trust Bank (GTBank) and First City Monument Bank (FCMB) at the weekend raised their monthly card spending limit on overseas PoS and online transactions from $1,000 to $3,000 and around $2,000 to $5,000. GTBank infor...
Premium Bank Launches GH₵5m Credit Facility For Startups
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Premium Bank Launches GH₵5m Credit Facility For Startups

The announcement was made by the MD of Premium Bank, Kwasi Tumi, during a special business forum and networking cocktail held in honour of the 100 most outstanding startups in Ghana, who were announced as members of the first cohort of the Ghana Startup Club 100 at the recent Ghana Startup Awards. Leading SME focused commercial bank, Premium Bank, has announced a GH₵5 million integrated credit facility for members of the Ghana Startup Club 100 through its HelpStation initiative. The announcement was made by the MD of Premium Bank, Kwasi Tumi, during a special business forum and networking cocktail held in honour of the 100 most outstanding startups in Ghana, who were announced as members of the first cohort of the Ghana Startup Club 100 at the recent Ghana Startup Awards. In a speci...
SON Intercepts N8 Billion Worth Fake Cables In Lagos
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SON Intercepts N8 Billion Worth Fake Cables In Lagos

The Standards Organisation of Nigeria, SON, on Monday said it intercepted over N8 billion worth of substandard electric cables. The Director-General of SON, Osita Aboloma, who made this known said the cables are cloned versions of 20 popular Nigerian brands. According to the organisation, the cables were shipped into Nigeria from China and were discovered by the enforcement team of SON around two residential buildings in the Ajangbadi area of Lagos State. SON said the cables were imported by a certain Estobest Electrical Limited, which targeted and cloned Nigerian cables already certified by the agency in fraudulent packages. Mr. Aboloma, who was represented by the agency’s Director, Inspectorate and Compliance, Bede Obayi, said that the agency had made some progress in the are...
Man Arrested At Bank Spraying Chemical Gas On Customers
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Man Arrested At Bank Spraying Chemical Gas On Customers

A 45-year old man, Bolaji Dosunmu has been arrested within the premises of a Guaranty Trust Bank Plc branch in Lagos where he was caught with a substance suspected to be chemical gas which he sprayed on the bank customers who came for transaction. This action caused commotion in the bank branch located at Idimu, Lagos as customers ran for cover thinking it was a robbery attack. P.M.EXPRESS gathered that the motive behind the suspect’s action was not known, but the police was alert with their officers raced to the scene and arrested the suspect. It was gathered that during the interrogation at the police station, the police demanded to know how and where he got the chemical gas from and he replied that he bought it for private use but was at the bank to withdraw money. He denied...
Lagos Fraudster Exchanges Fake $7,000 For N3.4m
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Lagos Fraudster Exchanges Fake $7,000 For N3.4m

A suspected fraudster, John Eze, has been arrested by the Zone 2 Police Command, Onikan, Lagos State, for allegedly defrauding a Bureau De Change operator, Ismaila Ali, in the Ikoyi area of the state. PUNCH Metro learnt that 34-year- old Eze had approached Ali sometime in January 2017, to exchange the sum of $7, 000 for the naira equivalent . Ali was said to have paid Eze N 3, 451, 000, buying the dollars at the rate of N 493 per dollar. The duo reportedly parted ways after the transaction , which held inside the suspect ’ s LEXUS 470 Jeep with number plate, Lagos AKD 612 DA. The bubble burst when Ali got to his office on Treadsmaqueen Street, Ikoyi , where another customer was waiting to exchange naira for dollars. As he brought out the money, he allegedly discovered that Eze...
Ritual Killers Release Lady Five Days After Kidnap
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Ritual Killers Release Lady Five Days After Kidnap

Suspected ritual killers have released a young lady, Maranatha Innocent, who was abducted along Katsina Ala Street, Makurdi, Benue State after spending five days in captivity. She was coming from a bank where she had gone to make a transaction when she was abducted by three men in a car. Maranatha's cousin, Love, told Northern City News on Sunday that the former came back to the house five days after her disappearance but could not utter a word about her experience. She said that after she was hospitalised, Maranatha informed the family that she was abducted by suspected ritual killers and kept in a house with two other female victims. Love said , “Maranatha told us that she took an okada from the bank and when they got to a lonely spot along Katsina Ala Street, the Okada man s...
NECA Attacks CBN Over N50 Stamp Duty
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NECA Attacks CBN Over N50 Stamp Duty

Nigeria Employers Consultative Association, NECA, umbrella body for employers in the country, yesterday, berated Central Bank of Nigeria, CBN, over its failure to comply with the Court of Appeal’s ruling directing all Deposit Money Banks, DMB, to discontinue the illegal charging of N50 per transaction in lieu of Stamp Duties. It will be recalled that the Court of Appeal sitting in Lagos on April 21, 2016, ruled against the imposition of stamp duties on bank lodgements with value of N1,000 and above. The Federal Government had planned to raise about N2.5 trillion per annum from the duty. Ruling on an appeal filed by Standard Chartered Bank against Kasmal International Services Limited and 22 others, Justice Ibrahim Saulawa and four other Justices of the Court of Appeal sitting in L...
Verizon Acquires Yahoo Core Business
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Verizon Acquires Yahoo Core Business

Verizon announced the end of the long process of acquiring Yahoo’s core business for just under $4.8 billion. This transaction ends the independence of one of Silicon Valley’s most iconic pioneering companies. Yahoo’s seventh and final CEO, Marissa Mayer, will reportedly depart with severance pay worth more than $50 million. The sale will unite Yahoo with AOL, the first web portal Verizon bought last year for $4.4 billion. The United States’ largest wireless provider is betting nearly $10 billion that combining the two formerly dominant websites will give it an edge in mobile content and advertising technology it can leverage across its more than 140 million subscribers. CEO of AOL Tim Armstrong said, “We have enormous respect for what Yahoo has accomplished: this transaction ...